"IHEART Radio" is certainly appropriate, as there are a lot of mainstream, popular acts that are, you know, regularly played on FM radio. The cost of booking all of these acts had to have been astronomical.

There are plenty of people who would pay that! They would look at it as 'wow, this perfect, we get to see all these great bands play that we listen to all the time on the radio'.
They won't care its 20-30 minute sets, that will be ideal for them. They get the songs they hear on the radio. Then you have the die-hard fans of each artist, who will just have to be there.

I mean, in Vegas we get the Billboard Awards, Country Music Awards etc and folks happily pay $250 for a rear arena seat for a live TV awards show. The week before in the same venue, there is a fight where every lower/floor seat is $1250 each. The cheapest seat available is $600.

This sounds like it's going to be a marathon torture test where afterwards people will talk about it fondly because they will have deluded themselves into believing they loved every minute (because they spent around $600 for 2 days of 20 to 30 minute sets and 1 song guest spots by high profile artists) and now somehow are part of some elite music society who got to attend.

Someone at work tonight said they were gonna go to this and I was shocked because I hadn't heard about a festival in my own town?!?! Ilooked it up and I'm just flabbergasted! This is absolute dogshit!! I can't even believe that I'm aquaintances with someone who said they wanna go to this!

Well both days sold out! So that means there are plenty of people who can pay 'insane' pricing! They are the type of people who would go to Coachella if they could sit down on a proper assigned seat and eat a slice of pizza with a knife and fork.